Post
Topic
Board Bitcoin Discussion
Re: El Salvador has become the first country to make #Bitcoin legal tender! 🇸🇻
by
anotherdayyyy
on 08/06/2021, 09:52:39 UTC
Well, without a doubt, it is something that has been working for a long time, but they are lights of how the recognition and adoption of bitcoin could begin.

There is another thread that at the time showed the 2019 initiative, which shows that it is a slow process, so slow that it is still in the process of being approved.

President of El Salvador Says He’s Submitting Bill to Make Bitcoin Legal Tender (Jack Mallers announced the news at the Bitcoin 2021 conference in Miami).

"The bill must still be reviewed by the country’s legislative assembly. Their approval would likely make El Salvador the first nation to adopt a bitcoin standard. Its full text was not immediately available, and it is not yet clear what being the first bitcoin country will mean for the fiscally unstable and oppressively poor central American nation, where 70% of residents lack a banking account".

...//...:

El Salvador is ironically one of the countries where its citizens do not have access to a bank account, but a cell phone and Internet connection have a higher percentage.
it seems that people in this country are poor so most of them have no bank account, cash is the most frequently used stuff there...But the glimpse  of its app(strike) propeled my worry since doing transaction in Strike can earn money for them and thus Bitcoin get widespread. I just wonder the reason behind this. since most people do not use bank, so how could bank do harm to the interest of people in this country?